Bright start for European markets
EWG•Major European equity markets began the week higher, with the STOXX 600 up 0.6% as banks and autos led gains and energy stocks lagged. Energy prices dipped, while U.S. bond markets were closed for the Columbus Day holiday.
1. European stocks rise
Major European equity markets began the week in positive territory, helped by lower energy prices and becalmed bond markets. The STOXX 600 was up 0.6%, with advancing stocks outnumbering decliners by more than 3.5 to 1; Frankfurt, Paris and London markets gained between 0.5% and 0.7%.
2. Banks lead gains
Banks and autos led sector gains, while energy stocks lagged. Hays was the biggest faller after reporting easing net fee growth in the first quarter.
3. Energy prices dip
Crude prices edged lower after Trump’s energy ceasefire with Russia and Ukraine, although details were light and neither Moscow nor Kyiv immediately confirmed the agreement. Hostilities in the Middle East escalated over the weekend after air strikes on Riyadh International Airport in Saudi Arabia.
